HSBC has relocated its global head of custody, John Van Verre, from London to Hong Kong, Global Custodian understands.
Van Verre’s move follows the transfer of Ian Stephenson, HSBC’s global head of fund services, from Hong Kong back to London.
Global Custodian understands the relocation of Van Verre is part of HSBC’s policy to maintain sufficient senior securities services management in the region.
The majority of HSBC Securities Services’ business heads are located in Hong Kong, including Ritesh Shah, its global head of fund administration, and Roy Zimmerhansl, its global head of securities lending
A spokesperson said there is no change in business focus or structure with Van Verre’s relocation.
Earlier this year HSBC appointed Jane Karczewski as head of global custody product, based in London. She joined from Citi where she was previously a managing director for strategic risk solutions for asset managers.